Balance transfers and zero %

I have just had a call from by bank about switching my credit card to a different type. I always pay off the balance so I am not too bothered by the offer of zero % except that my wife does have large balances on her cards. I take it I cannot transfer the balance from somebody elses card. She is a card holder on the account in question but it is a second card to me rather than a joint account, if there is such a thing with credit cards.

Kevin

That probably depends on the credit card. I once had some 0% balance transfer cheques from Capital One which, although intended for balance transfers, could actually be used for anything you liked. I just paid mine into an interest-bearing account up to the credit limit, and then transferred to another card with a 0% transfer deal when their 0% period ran out. I managed to keep transferring it around for over 2 years without having to pay any interest at all.

However, I suspect that there were enough people like me doing that sort of thing that it's a lot harder to do that kind of stuff now. But there is no harm in asking your credit card company to transfer your wife's balance. If they say no, you can always look for another card that will allow it.

Good luck!

Adam

There is no problem transferring to someone else's account, I have done it frequently. I also transfer to my egg money account and rack up interest, as that counts as a credit card account too.

mrcheerful

I might give that a go then.

Kevin